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#ETH 5.6 Midday Double Bottom Trading Ideas
The main coin continues to hit new highs, but the secondary coin remains under pressure, unable to break above the previous high of 2400, completely lagging behind the bulls.
The key support at 2376 has already been broken downward, indicating short-term weakness and downward pressure.
For the secondary coin to regain strength, it must stabilize above 2376 and then effectively break through the previous high of 2400 to open up upward space;
Otherwise, it will remain weak and volatile, only passively following the main coin.
Currently at the end of a wedge pattern, focus on defending the 2343 wedge support;
Once volume increases and it breaks below, the 2343 support will be invalidated, and the price will likely drop to the 2307 area, damaging the structure, making subsequent rebounds very difficult.
Trading suggestions:
• Break through 2371 with volume, follow the trend to go long on the right side, and exit on pullback to cut losses;
• Drop below 2353 with volume, follow the trend to try shorting, strictly set stop-loss;
• Confirm stabilization after retesting support at 2313, consider short-term long positions, and exit immediately if it breaks below 2297.
Stand firm on the hourly chart at 2371, with targets at 2400—2422 above;
On the 4-hour cycle, a valid break below 2344 indicates a subsequent range of 2308—2257.